The Federal Government is set to hold talks with cement manufacturers beginning July 1 to tackle the persistent rise in cement prices, Minister of Works David Umahi has announced.
Umahi made the declaration at the Lagos Continental Hotel during the unveiling of Lafarge’s new corporate identity, now rebranded as HBM, a member of the HUAXIN Group. His media aide, Francis Nwaze, confirmed the development in a statement issued in Abuja on Monday.
The minister warned that soaring cement prices were straining ongoing infrastructure projects and fuelling a surge in contractor requests for contract variations — demands he said the government has no intention of accommodating.
“I want to insist that Lafarge, now HBM, and other manufacturers of cement should reduce their prices. We shall be engaging on this from the first of July,” Umahi said.
“Manufacturers of cement must reduce their prices because the contractors are choking me to review their contracts. But nobody is reviewing anybody’s contract. It’s the manufacturers of cement that should review their costs,” he added.
Umahi noted that the Tinubu administration’s heavy investment in national infrastructure had created significant market opportunities, urging HBM and other players to scale up production capacity to meet rising demand.
While commending HBM on its rebranding and renewed commitment to Nigeria, the minister pledged government support and partnership, telling the company to “enlarge your coast” as the market continues to grow under the president’s infrastructure agenda.
He also highlighted the Lagos-Calabar Coastal Highway as a flagship achievement of the Renewed Hope Agenda, saying the project had drawn international acclaim, including a positive assessment from a Dutch financial institution that described it as undervalued and of the highest quality.
Umahi expressed confidence in President Tinubu’s vision, saying the administration remained on course to deliver meaningful transformation for Nigerians.
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